theMART

What theMART does

Merchandise Mart Properties, Inc. (theMART) operates a 3.7 million square foot, 25-story commercial building in Chicago that spans two city blocks along the Chicago River. Founded in 1930 by Marshall Field & Co. and currently owned by Vornado Realty Trust (NYSE: VNO), the property is the world's largest commercial building and functions as the primary U.S. trade center for the contract design industry. The asset houses more than 250 design showrooms, corporate offices, restaurants, and retail establishments, and serves as the venue for flagship industry events including NeoCon, Chicago Collective, the National Bridal Market, and One of a Kind.

theMART generates revenue through two principal channels: commercial space leasing to design showrooms and corporate tenants, and trade show and event hosting. Tenant logos span Fortune 500 corporations including Motorola Mobility, PayPal, Conagra Brands, Allstate, Medline Industries, Beam Suntory, IPG, Grainger, Grubhub, GEICO, GoHealth, Project44, Weber Shandwick, Fleishman Hillard, and Braintree, alongside hundreds of design-focused showrooms. The property attracts approximately 30,000 visitors per business day, or roughly 10 million annually. Pricing is quote-based rather than publicly disclosed, reflecting negotiated Class A commercial real estate terms.

The asset has been the subject of multiple capital improvement cycles, including a $40 million renovation phase completed in June 2016 and a comprehensive amenity transformation in 2023 that added fitness, conference, and tenant lounge offerings. theMART holds LEED Gold and Fitwel certifications and features the Art on the MART public art projection platform on its river-facing facade. Its competitive position is anchored by the physical scale of the building, the density of its design showroom cluster, its direct connection to Chicago's CTA rail system, and the brand equity built over nine decades as the trade center of the U.S. contract design industry.

Name

theMART

Legal name

Merchandise Mart Properties, Inc.

Website

https://themart.com

Company type

Private

Founded year

1930

Operating status

Operating

Headcount range

1–10 employees

Short description

Merchandise Mart Properties operates the world's largest commercial building — a 3.7 million square foot Chicago property housing 250+ design showrooms, corporate offices, and trade show venues, owned by Vornado Realty Trust.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Convention and Trade Show Organizers (56192)

SIC

Retail-Misc General Merchandise Stores (5399)

akta.pro primary industry

Convention & Exhibition Centers (Public Convention Centers, Civic Centers) (THAHAAAA)

akta.pro secondary industry

Conference & Convention Center Catering (THAHAKAB)

Keywords

• Commercial real estate
• Office space leasing
• Design showroom leasing
• Trade show venue
• Event hosting services

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Space Leasing: THE MART generates revenue primarily through leasing office spaces, design showrooms, and retail/restaurant locations to tenants. The building encompasses 3.7 million square feet of commercial real estate across 25 stories.
2. Trade Show and Event Hosting: THE MART hosts major trade and consumer shows including NeoCon, Chicago Collective, National Bridal Market, and One of a Kind Holiday Show. These events generate revenue through venue rentals and attract tenants and visitors.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

THE MART leases commercial office space, design showrooms, and retail/restaurant space across approximately 3.7 million square feet and 25 stories in Chicago. It also hosts trade shows, conferences, and consumer events through its in-house venues and partnerships with event organizers. Membership-based offerings include the DesignHQ designer club and WorkLife Wellbeing fitness center.

Product overview

THE MART is the world's largest commercial building and design center, encompassing 3.7 million square feet across 25 stories. The property operates as a unified commercial ecosystem offering three core service lines: Design Showrooms (250+ premier showrooms for residential and commercial design), Office Leasing (corporate office space to Fortune 500 and tech companies), and Restaurants & Retail (on-site dining and services). The building provides comprehensive amenities including WorkLife Meetings (21,000 sq. ft. conference center), Marshall's Landing (10,000+ SF restaurant/lounge), River Park (13,000 SF outdoor riverfront space), and WorkLife Wellbeing (fitness facility). Additional offerings include DesignHQ (members-only designer club), Design Services (concierge and designer matching), and Trade Events & Shows (NeoCon, Chicago Collective, and other major trade/consumer events). The portfolio also includes Design Chicago Magazine for design community engagement.

Differentiator

Problem solved

Functional benefit

Products and services

• Office Leasing Long-term lease of corporate office space across approximately 3.7 million square feet and 25 stories in Chicago, for enterprise tenants including Motorola, Allstate, Conagra, Grainger, PayPal, AbbVie, Bank of America, and Cleveland-Cliffs.
• Design Showrooms Lease of showroom space to 250+ premier design and furnishings manufacturers under one roof, serving as a trade and consumer destination for furniture, textiles, lighting, and home goods.
• Restaurants and Retail Space Lease of ground-floor and concourse space to 35+ restaurants and retail operators, including a food hall, serving the building's tenant and visitor base.
• WorkLife Meetings (Conference Center) Conference and meeting venue for corporate event bookings, available to tenants and external event organizers.
• Marshall's Landing Restaurant and event venue on the Chicago River serving private events and providing dining amenities for tenants and visitors.
• River Park Outdoor event and amenity space overlooking the Chicago River, available for private events and tenant activation.
• Founders Room Exclusive private-room event venue for tenant and external events at THE MART.
• WorkLife Wellbeing Membership-based fitness and wellness facility for tenants and members at THE MART.
• DesignHQ Members-only club and resource for the design community, providing access to showrooms, concierge design services, and programming.
• Design Services Concierge Concierge design services provided to tenants and DesignHQ members to support product sourcing and project-based assistance.
• Trade Events and Shows Production and hosting of major trade and consumer shows, including NeoCon (contract design), Chicago Collective (apparel), National Bridal Market Chicago, and One of a Kind Show and Sale.
• Design Chicago Magazine Magazine publication covering the design industry and THE MART community.

Quantifiable outcome

• 30,000 visitors per business day (nearly 10 million annually)
• +2 more outcomes

Named customers17 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• HaworthnotableOthersHaworth is the premier furniture provider of the River Park outdoor space at THE MART. Haworth provides furniture for the 13,000 SF riverfront park along the Chicago River.

Scale indicators5 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• McCormick Place: Chicago's flagship convention and trade show complex operated by the Metropolitan Pier and Exposition Authority. Directly comparable as the primary host of large-scale trade events in the same Chicago market where THE MART hosts NeoCon and similar events, competing for the same event organizer customers.
• New York Design Center (200 Lexington Avenue): Manhattan's premier to-the-trade design resource with 100+ showrooms across multiple floors. Directly comparable as a multi-tenant designer showroom destination serving architects, interior designers, and design-savvy consumers on the East Coast.
• AmericasMart Atlanta: A wholesale trade center in Atlanta hosting 14+ annual trade shows and home to thousands of permanent showrooms across home, gift, and apparel. Directly comparable to THE MART in combining permanent showrooms with major trade event hosting.
• Dallas Market Center: The largest permanent trade mart in the Western Hemisphere for wholesale home and gift products, hosting major trade events throughout the year. Directly comparable as a trade show venue + showroom destination model serving retailers and designers.
• International Market Centers (High Point / Las Vegas): The largest operator of furnishings, gift, and home décor showrooms in the U.S., anchored by the High Point Market in North Carolina. Comparable as a B2B design/furnishings trade venue and showroom operator competing for the same manufacturer and designer tenant relationships.
• Pacific Design Center: A multi-building design center in West Hollywood, California, housing hundreds of designer showrooms serving the West Coast interior design trade. Directly comparable as a curated destination for design professionals with a similar showroom-tenant model.

Broad incumbents

• Hudson Yards (Related Companies / Oxford Properties): A large-scale mixed-use development on Manhattan's West Side combining Class A office, retail, residences, and a public observation deck. Comparable as a flagship trophy asset competing for premium corporate office tenants and offering differentiated amenity programming.
• Vornado Realty Trust (parent portfolio): THE MART's publicly-traded parent REIT, owning approximately 30 million square feet of Class A office and retail real estate primarily in Manhattan and Chicago. Comparable as the parent capital allocator and operating platform, with THE MART being one of its flagship assets.
• Javits Center: New York City's primary convention and trade show venue operated by the New York Convention Center Operating Corporation. Comparable as a large-scale public convention center competing for trade show and event organizer customers, though without the integrated showroom/office leasing model.

Regional players

• Chicago Loop / River North Class A office landlords (e.g., Tishman Speyer, JLL-managed towers): Major institutional owners and operators of Class A office product in downtown Chicago competing with THE MART for the same corporate tenant base. Comparable for benchmarking on rent, occupancy, and amenity strategy within the same submarket.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/TheMARTChicago
• LinkedInlinkedin.com/company/merch-mart
• Instagraminstagram.com/themartchicago

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about theMART